Hoth Therapeutics Reports $2.2 Million Net Loss in Q2 2025, Increases R&D Spending

Hoth Therapeutics, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of approximately $2.2 million, or $0.17 per share, compared to a net loss of $1.7 million, or $0.25 per share, for the same period in 2024. The company's total operating expenses for the quarter were approximately $2.2 million, up from $1.7 million in the prior year, driven primarily by increased research and development costs, which rose to $1.0 million from $644,000. General and administrative expenses also saw a slight increase, totaling $1.2 million compared to $1.1 million in the previous year.

For the first half of 2025, Hoth Therapeutics reported a net loss of approximately $5.7 million, or $0.44 per share, compared to a loss of $3.9 million, or $0.68 per share, in the same period of 2024. The increase in losses was attributed to higher research and development expenses, which reached approximately $3.0 million, significantly up from $1.2 million in the prior year. This increase included $1.3 million in in-process research and development expenses related to the acquisition of patent applications. General and administrative expenses remained relatively stable at approximately $2.7 million for both periods.

The company’s cash and cash equivalents as of June 30, 2025, stood at approximately $9.0 million, an increase from $7.0 million at the end of 2024. Hoth Therapeutics has funded its operations primarily through equity sales, including the exercise of warrants, which generated approximately $5.6 million in gross proceeds during the first half of 2025. The company also entered into an At The Market Offering Agreement, allowing it to sell shares of common stock with a total offering price of up to $7.7 million, which it plans to utilize for ongoing development and operational needs.

In terms of operational developments, Hoth Therapeutics is focused on advancing its clinical-stage product candidates, including HT-001 for cancer treatment side effects and HT-KIT for mast-cell derived cancers. The company has also expanded its employee base, with a total of 13,234,027 shares of common stock outstanding as of June 30, 2025, compared to 8,042,747 shares at the end of 2024. This increase reflects the exercise of warrants and the issuance of shares for various agreements, including a patent acquisition.

Looking ahead, Hoth Therapeutics anticipates continued increases in both research and development and general administrative expenses as it progresses with its clinical trials and seeks regulatory approvals for its product candidates. The company acknowledges the need for additional funding to support its long-term business plan and is actively exploring various financing options, including potential partnerships and further equity sales.